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The role of signaling in foreign investment attraction

Research Project

Project/Area Number 18K01571
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07040:Economic policy-related
Research InstitutionTsuda University

Principal Investigator

Sawaki Hisashi  津田塾大学, 学芸学部, 教授 (80351865)

Project Period (FY) 2018-04-01 – 2023-03-31
Project Status Completed (Fiscal Year 2022)
Budget Amount *help
¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
Fiscal Year 2020: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2019: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000)
Fiscal Year 2018: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Keywords海外投資誘致 / 法人税 / シグナリング
Outline of Final Research Achievements

Today, many countries are trying to attract foreign investment. When a host country’s investment return is not well known to foreign investors, there can be various signaling means to attract investor attention: tax holidays, reduction of ordinary corporate taxes, country marketing (advertising), etc. This study has shown that each of these means can play important signaling roles. When comparing tax holidays and advertising, it has been shown that the former dominates the latter in terms of the host country’s welfare.

Academic Significance and Societal Importance of the Research Achievements

本研究は、ある国に投資した際のリターンが海外投資家に良く知られていない場合に(情報の非対称性)、その国の政府がどのような手段を取りうるかをゲーム理論のシグナリング・モデルによって考えている。既存研究で分析されてきたタックスホリデー以外にも、普通の法人税や、投資促進機関による宣伝もシグナリング的役割を果たしうる。情報が非対称であるときには、普通の法人税率は大きく低下しうることが示された。これは「底辺への競争」と称される法人税引き下げ競争への一つの理論的解釈を与える。

Report

(6 results)
  • 2022 Annual Research Report   Final Research Report ( PDF )
  • 2021 Research-status Report
  • 2020 Research-status Report
  • 2019 Research-status Report
  • 2018 Research-status Report
  • Research Products

    (5 results)

All 2023 2022 2020 2019

All Journal Article (5 results)

  • [Journal Article] Tax Holiday or Advertising: Which Signal is Most Effective in Attracting Foreign Investment?2023

    • Author(s)
      澤木久之
    • Journal Title

      津田塾大学紀要

      Volume: 55 Pages: 49-72

    • Related Report
      2022 Annual Research Report
  • [Journal Article] 法人税引き下げとシグナリング~EUに関する実証分析2022

    • Author(s)
      齋藤都美 澤木久之
    • Journal Title

      津田塾大学IICS Monograph Series

      Volume: 40 Pages: 1-21

    • Related Report
      2021 Research-status Report
  • [Journal Article] A Theoretical Approach to Signaling in Tax Competiton2020

    • Author(s)
      Hisashi SAWAKI
    • Journal Title

      津田塾大学IICS Monograph Series

      Volume: 37 Pages: 1-29

    • Related Report
      2020 Research-status Report
  • [Journal Article] Corporate Tax Rates as Signal of Market Size2019

    • Author(s)
      Hisashi SAWAKI
    • Journal Title

      津田塾大学IICS Monograph Series

      Volume: 34 Pages: 1-20

    • Related Report
      2019 Research-status Report
  • [Journal Article] Labor-Quality Signaling to Attract Foreign Investment2019

    • Author(s)
      Hisashi SAWAKI
    • Journal Title

      津田塾大学紀要

      Volume: 51 Pages: 101-119

    • NAID

      120006622194

    • Related Report
      2018 Research-status Report

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Published: 2018-04-23   Modified: 2024-01-30  

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